Interest income jumped 20.27% to Rs 1,387.30 crore in Q1 FY23 as against Rs 1,153.45 crore recorded in the same quarter last year. Income from fees and services surged 39.98% to Rs 1,537.99 crore in the Q1 FY23 from Rs 1,098.71 crore posted in Q1 FY22.

Profit before tax surged 104.95% to Rs 840.92 crore in the first quarter as against Rs 410.30 crore recorded in the corresponding quarter previous year.

Finance costs increased by Rs 79 crore or 34.5% to Rs 308 crore in Q1 FY23 from Rs 229 crore reported in Q1 FY22. Total Operating cost stood at Rs 1,663 crore for Q1 FY23, up 42.62% as compared to Rs 1,166 crore in Q1 FY22.

Earnings before credit costs increased 22% to Rs 1,291 crore for Q1 FY23 versus Rs 1,056 crore for Q1 FY22. Impairment losses & bad debts expenses for Q1 FY23 was at Rs 450 crore as against Rs 645 crore recored in the same quarter a year ago.

New accounts volume was at 902,000 accounts for Q1 FY23 up by 48% compared with 609,000 accounts for Q1 FY22. Card-in-force grew by 19% to 1.43 crore as of Q1 FY23 as against 1.20 crore as of Q1 FY22. Spends grew by 79% at Rs 59,671 crore for Q1 FY23 from Rs 33,260 crore reported in Q1 FY22.

SBI Cards' market share in Q1 FY23 (available till May 2022) – Card-in-force was at 18.4% in Q1 FY23 from 19.2% posted in Q1 FY22. Spends stood at 18.6% for Q1 FY23 as compard to 18.9% reported in Q1 FY22. The company's receivables grew by 36% to Rs 33,215 crore as of Q1 FY23 from Rs 24,438 crore as of Q1 FY22.

The gross non-performing assets (GNPA) were at 2.24% of gross advances as on 30 June 2022 as against 3.91% as on 30 June 2021. Net non-performing assets (NNPA) stood at 0.79% as against 0.88% as on 30 June 2021.

Return on Average Assets (ROAA) improved to 7% in Q1 FY23 as compared to 4.5% posted in Q1 FY22. Return on Average Equity (ROAE) stood at 30.8% in Q1 FY23 from 18.7% reported in the corresponding quarter previous year.

The company's total balance sheet size as of 30 June 2022 was Rs 36,859 crore as against Rs 34,648 crore as of 31 March 2022. Total Gross Advances (Credit card receivables) as of 30 June 2022 were Rs 33,215 crore, as against Rs 31,281 crore as of 31 March 2022. SBI Cards' net worth as of 30 June 2022 stood at Rs 8,445 crore as against Rs 7,824 crore as of 31 March 2022.

As of 30 June 2022, company's CRAR was at 24.7% compared to 26.1% as of 30 June 2021. Tier I capital stood at 21.5% as of 30 June 2022 as against 22.6% as of June 30, 2021.

SBI Cards and Payment Services is a non-banking financial company that offers extensive credit card portfolio to individual cardholders and corporate clients.